March 23, 2018 / 12:42 AM / 8 months ago

BRIEF-Lenovo Announces Results Of Tender Offer For Repurchase Of 2019 Notes And 2022 Notes

March 23 (Reuters) - Lenovo Group Ltd:

* ANNOUNCES FINAL RESULTS OF TENDER OFFER FOR REPURCHASE OF 2019 NOTES AND 2022 NOTES

* ‍CO AND JOINT LEAD MANAGERS SIGN SUBSCRIPTION AGREEMENT TO CARRY OUT A DRAWDOWN UNDER MEDIUM TERM NOTE PROGRAMME​

* ‍AGREEMENT TO CARRY OUT DRAWDOWN UNDER MEDIUM TERM NOTE PROGRAMME TO ISSUE 2023 NOTES IN AGGREGATE NOMINAL AMOUNT OF US$750 MILLION​

* INTENDS TO USE NET PROCEEDS FROM 2023 NOTES TO REPURCHASE ITS OUTSTANDING 2019 NOTES AND 2022 NOTES​

* NON-PREFERRED TENDER CAP WAS REVISED TO U.S.$200 MILLION AND WAS EXCEEDED

* U.S.$140.2 MILLION IN AGGREGATE PRINCIPAL AMOUNT OF PREFERRED 2019 TENDER INSTRUCTIONS RECLASSIFIED TO NON-PREFERRED 2019 TENDER INSTRUCTIONS

* ‍HAS DETERMINED NOT TO ISSUE 2028 NOTES​

* NOTES TENDERED PURSUANT TO NON-PREFERRED 2019 TENDER INSTRUCTIONS WILL BE SUBJECT TO PRORATION

* ‍EXPECTS FINANCING CONDITION TO BE SATISFIED AND SETTLEMENT DATE OF TENDER OFFER IS EXPECTED TO BE ON OR ABOUT MARCH 29, 2018​

* PRORATION AT A PRORATION FACTOR OF 34.007369%

* ‍WILL MAKE AN APPLICATION TO STOCK EXCHANGE FOR LISTING OF, AND PERMISSION TO DEAL IN, 2023 NOTES​

* NO NON-PREFERRED 2022 TENDER INSTRUCTIONS HAVE BEEN ACCEPTED.

* NO TENDER PRICE FOR 2022 NOTES WAS SET. Source text for Eikon: Further company coverage:

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